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Changes in Tax Rates on Bank Transactions

In line with the Republic Act No. 10963 or the Tax Reform for Acceleration and Inclusion (TRAIN) Act which took effect on January 1, 2018, changes in tax rates imposed on applicable bank transactions shall be applied as follows:

Final Withholding Tax on interest from Foreign Currency Deposits — from 7.5% to 15%
Documentary Stamp Tax on Certificates of Time Deposit — from P1.00 to P1.50 for every P200.00 or fractional part of the value of deposit
Documentary Stamp Tax on all Bank Checks and Drafts — from P1.50 to P3.00 each
Documentary Stamp Tax on other affected bank transactions shall increase by 50% to 100%, depending on the nature of transaction

For your information and guidance.

If you have inquiries or concerns, please visit or call your UCPB branch.

You may also contact our Customer Relations Center at (+632) 811-9111 or crc@ucpb.com.

Date published: January 10, 2018

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